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What Would Be the Maturity Price of a Promissory Note $94607 \$ 94 \quad 607

Question 15

Multiple Choice

What would be the maturity price of a promissory note with a term of 90 days,interest rate of 5.7% and a face value of $100 000?


A) $94607 \$ 94 \quad 607
B) $98595 \$ 98 \quad 595
C) $98614 \$ 98 \quad 614
D) $99021 \$ 99 \quad 021

Correct Answer:

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